FHA Loan With Social Security Income: How a Social Security Income Mortgage Works
You can qualify for an FHA loan using Social Security income, and a social security income mortgage is underwritten like any other FHA purchase loan. This guide explains which benefits count, what documentation lenders require, how nontaxable income is adjusted, and how debt-to-income works out in a full Henrico County example.
FHA Types of Mortgage Programs Available: 7 FHA Loan Programs and When Each One Fits
Wondering about the types of mortgage programs available? FHA is not one loan but seven HUD-insured programs covering purchase, rehab, energy upgrades, condos, multi-unit homes, and refinancing. Mortgage broker Duane Buziak explains the 3.5% minimum down payment at a 580 credit score, how UFMIP and MIP apply to every program, and which FHA loan fits your situation before you apply.